I interpret the sculpture as pointing out the tepid-nature with which a large portion of Christians mete out their "path" in faith, and the fact that "church" these days ends up being a fairly commercial venture. You have near-coffee-shops built-in, contemporary concerts, professional sound systems, big-screen TVs everywhere, gigantic campuses with day-care centers and staff. It's probably not this way in Israel, for Israeli Christians, but then, this sculpture probably wasn't making a target of them anyway. I'm sure this was aimed specifically at provoking the thought of more western Christians.
Being atheist, I am obviously not offended by this. I feel it has a valid point to make, honestly. I'm trying to think of what someone could do to try and caricature the atheist community that would have me up-in-arms - but atheists vary on so many things... and only share one. To the point that I am afraid I am probably unable to understand the outrage. I suppose I might find myself somewhat upset if someone were spreading outright lies about me that I felt were affecting my relationships with other people. However, I don't feel there is a "lie" to be found here. An opinion is all it is - and many (myself included) will see it as a valid criticism.
If it were created and displayed in the U.S., I don't feel anyone would bat an eye. People have been trying to be avant-garde in the art subculture for so long here that even the members of our society who might take offense to this have been jaded out of doing so for quite some time already.